Asset Management One Co. Ltd. Reduces Stock Position in Tanger Inc. $SKT

Asset Management One Co. Ltd. lowered its position in shares of Tanger Inc. (NYSE:SKT) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 160,819 shares of the real estate investment trust’s stock after selling 604 shares during the period. Asset Management One Co. Ltd. owned about 0.14% of Tanger worth $4,918,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale boosted its position in Tanger by 5.7% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 25,340 shares of the real estate investment trust’s stock valued at $793,000 after buying an additional 1,359 shares during the period. Bayforest Capital Ltd bought a new position in Tanger in the 2nd quarter worth $696,000. Yousif Capital Management LLC raised its holdings in Tanger by 2.6% in the 2nd quarter. Yousif Capital Management LLC now owns 42,262 shares of the real estate investment trust’s stock worth $1,292,000 after purchasing an additional 1,072 shares in the last quarter. Meritage Portfolio Management bought a new position in Tanger in the 2nd quarter worth $491,000. Finally, Inspire Investing LLC raised its holdings in Tanger by 26.4% in the 2nd quarter. Inspire Investing LLC now owns 12,852 shares of the real estate investment trust’s stock worth $393,000 after purchasing an additional 2,682 shares in the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Tanger in a report on Wednesday, October 8th. Barclays upped their price objective on shares of Tanger from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, October 6th. Wall Street Zen upgraded shares of Tanger from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. LADENBURG THALM/SH SH assumed coverage on shares of Tanger in a report on Friday, July 18th. They issued a “buy” rating and a $35.00 price objective for the company. Finally, Evercore ISI upped their price objective on shares of Tanger from $35.00 to $36.00 and gave the stock an “in-line” rating in a report on Friday, October 17th. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $37.00.

Tanger Stock Down 1.0%

Shares of Tanger stock opened at $33.16 on Wednesday. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.11 and a quick ratio of 0.11. The company has a 50-day moving average of $33.46 and a 200 day moving average of $31.81. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 37.68, a PEG ratio of 2.16 and a beta of 1.36. Tanger Inc. has a 1 year low of $28.69 and a 1 year high of $37.57.

Tanger (NYSE:SKT) last issued its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. The company had revenue of $133.44 million during the quarter, compared to analyst estimates of $132.02 million. Tanger had a net margin of 18.22% and a return on equity of 15.45%. Tanger’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period last year, the business earned $0.53 EPS. Tanger has set its FY 2025 guidance at 2.240-2.310 EPS. As a group, sell-side analysts anticipate that Tanger Inc. will post 2.24 earnings per share for the current fiscal year.

Tanger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Friday, October 31st. Tanger’s dividend payout ratio (DPR) is currently 132.95%.

Insiders Place Their Bets

In other Tanger news, EVP Gallardo Leslie Swanson sold 17,500 shares of the firm’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $34.74, for a total transaction of $607,950.00. Following the completion of the sale, the executive vice president directly owned 92,665 shares in the company, valued at approximately $3,219,182.10. This trade represents a 15.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.70% of the company’s stock.

About Tanger

Tanger Inc (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger’s portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S.